Bitcoin SV Year 1: Tokenization

Tokenization on the Bitcoin SV (BSV) blockchain has been on a steady rise in the past year, and as BSV continues to enable scaling, more businesses are turning to decentralized applications. BSV-powered applications have spanned multiple industries, from gaming to asset management, gambling to music streaming. With BSV, enterprises are able to easily tokenize their assets, representing them digitally and making them easily divisible. Some of the businesses building their applications on Bitcoin SV include:

BITBOSS

The gambling industry has always been quick to adopt technological advances, and blockchain technology has been no different. One company that has been a pioneer in this sector is BitBoss, a company that’s tying the casino physical world to the online world using Bitcoin SV. Despite being very lucrative, the online gambling industry faces several challenges, all stemming from a lack of trust between the participants. The players don’t trust the operators to deliver a fair result, forcing the operators to incur very huge costs in implementing casino client server architecture.


BitBoss solves all these challenges, allowing casinos to offer provably fair results using blockchain technology. Gaming transactions are attached with a public key which the players and the operators can verify, allowing both parties to be completely certain that the results weren’t interfered with. BitBoss banks on BSV’s massive scalability to handle the huge volumes of transactions generated by the gambling industry. BitBoss launched casino tokens on the Tokenized protocol recently, targeting mobile gaming. BitBoss mobile games can run using native BSV or other casino-specific customized tokens.

AMLEH

Bitcoin has been described as the digital gold, but it’s much more than this. However, one company is using Bitcoin SV to bring real gold to blockchain. Amleh has digitized gold on the BSV blockchain, bringing on-chain the concept of gold certificates that have been around for decades.


Amleh allows you to easily transfer fractional amounts of gold in a secure and traceable way. The platform uses the BSV blockchain for on-chain transparency, while using a renowned audit firm for off-chain transparency of the physical gold that the Amleh tokens back. In line with its mission of making gold accessible and usable, Amleh allows you to own as little as 1 milligram of gold.

KRONOVERSE

The gaming industry was among the first to adopt blockchain technology, way back when not many even knew of the technology. The intertwining of blockchain and gaming was a natural union, given the gaming industry’s long history of token use for in-app purchases. Kronoverse is taking the use of blockchain technology in gaming to a new level, allowing gamers to generate gaming objects and items that they can then trade, just as they would cryptocurrency. The company relies on Bitcoin SV for its massive scalability, especially since gaming is an industry with extremely high volumes of transactions.


The tokens can then be utilized by other game developers in their own games, creating a gaming community where the players can utilize the assets from anywhere. Since the tokens are built on Bitcoin SV, they are forever yours and can’t be taken over by the game developers.

BUSKON

South Korean app store One Store has always challenged convention, rising to become the largest app store in South Korea over Google’s Play Store and Apple’s App Store. Now, it’s challenging the conventional online music industry, and it’s using Bitcoin SV for this. One Store is working on BUSKON, a music platform built on the concept of online busking. Buskon allows content creators to get paid directly by their fans, eliminating the middle men who continue to exploit the content creators. First, it allows you to listen to the music you love for free. If you like any of the work done by the artists, you can tip them directly. The musicians will get to earn in BSV for their music and they can then use this BSV to pay for other services, in line with the ‘earn and use’ philosophy.


These are just a few of the enterprises that are building their business models on the Bitcoin SV blockchain. In just one year of existence, BSV has proven that businesses can build on Bitcoin and enjoy all the benefits that accrue from the use of decentralized applications. BSV’s ability to scale massively has given many businesses the opportunity to integrate blockchain into their operations. With the Genesis protocol upgrade set to take place in February 2020, the future looks bright for the enterprise use of Bitcoin SV.


Want to learn more about what’s happened in the BSV ecosystem in the past year?